Watters International Realty Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Watters International Realty is a residential real estate brokerage franchise offering agents lead generation, systems, and coaching. Franchisees run local brokerages, recruiting agents and managing listings and sales.
FranchiseVerdict summary · 2026
A Watters International Realty franchise requires a total initial investment of $49K – $201K, including a $15K – $35K franchise fee and an ongoing 10.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $49K – $201K
- 31st pct Real Estate
- Avg gross sales
- N/A
- Royalty
- 10.0%
- 53rd pct Real Estate
- Units
- 9
- 13th pct Real Estate
- SBA charge-off
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = favorable by >10% vs Real Estate avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $49K – $201K including a $15K franchise fee, 10.0% ongoing royalty.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict D (Below average), verdict score 29/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- WIR Systems Inc.
- Predecessor
- Watters International Realty, LLC (now ATXWIR, LLC d/b/a Watters International Realty)
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Chris Watters
- CEO experience
- 18 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- Delaware
- HQ
- 3307 Northland Drive, Suite 100, Austin, Texas 78731
Overview
About
- CEO
- Chris Watters
- Headquarters
- TX
- Founded
- 2017
- FDD year
- 2025
- States available
- 7
Can you afford it, and what does the money buy?
Entry cost runs 41% below the typical real estate franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $15K | $15K |
| Working capital (3–6 mo) | $10K | $20K |
| Equipment, build-out, other | $24K | $166K |
| Total initial investment | $49K | $201K |
Source: Watters International Realty 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $49K – $201K
- Top 40% of category vs category
- Liquid capital req'd
- $10K – $20K
- Middle of category vs category
- Franchise fee
- $15K – $35K
- Top 40% of category vs category
- Royalty
- 10.0%
- Gross Revenues · typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 11.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 10.0% of gross sales |
| Marketing / ad fund | 0.0% of gross sales |
| Technology fee | $1K |
| Transfer fee | $8K |
| Renewal fee | $5K |
| Total fee load | 11.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Watters International Realty did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Watters International Realty unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
70%
Above the 30–60% band. Verify revenue is per-unit average
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 11.0% — above the Real Estate average of 9.1%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
System shrank 18.2% over 3 years — 2 closures. Ask existing franchisees about local market conditions.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Real Estate averages
How Watters International Realty Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 9
- Opened
- 1
- Last reporting year
- Closed
- 2
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 22.2%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- -18.2%
- Net unit change over 3 years
- 3-yr CAGR
- -18.2%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 1
- Closed (3yr)
- 2
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 1
- Franchisor bought back
- Projected new
- 0
- Franchisor's next-year forecast
- Termination rate
- 10.0%
- Franchisor-initiated terminations
- Ceased ops
- 30.0%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 10 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Watters International Realty (began franchising 2025) has six litigation matters on a very small 9-unit system, with -18.2% net unit decline and 22% turnover. No bankruptcy or going-concern and no financials disclosed here, but 6 suits relative to only 9 units is elevated. No Item 19 disclosure adds a concern.
Litigation (Item 3)
Four cases total: (1) PENDING - WIR Systems, Inc. v. Neumann Realty Corp. and Chad Neumann (Cause No. 1:25-CV-00009-RP, U.S. District Court Western District of Texas) - Breach of Contract, Breach of Non-Compete Agreement, seeking damages for unpaid royalties and unreported financials; (2) PENDING/RESOLVED - Highland Homes-Austin, LLC v. Luis Demetrio Urista and ATX WIR, LLC (Cause No. D-1-GN-23-008524, Travis County) - Commission dispute and Tortious Interference, dismissed with prejudice on July 17, 2024; (3) SETTLED - Marcianne Glennon v. Shirley Shaw, Chris Watters, WIR LLC, Kirk Edward Lewis (Cause No. D-1-GN-15-003842, Travis County) - Fraud and DTPA claims, settled August 30, 2016 for $75,000, no admission of liability; (4) SETTLED - Amanda Mayorga-Monsisvais and Michael Benavidez v. multiple parties including Chris Watters d/b/a WIR (Cause No. D-1-GN-21006159, Travis County) - Property subdivision compliance and fraud claims, settled May 8, 2023 for $35,000 to plaintiffs and $5,000 to sellers, no admission of liability.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 29 / 100 verdict
- 01HIGH6 litigation matters against a small 9-unit system (high count relative to size)
- 02MINORNew franchisor (began 2025)
- 03MINORNo Item 19 disclosure, no bankruptcy, no going-concern
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 11.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Territory type | Population-based Awarded Area |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Territory radius | 0.5 mi |
| Territory population | 50,000 |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Texas |
| Litigation count | 5 |
View Item 3 litigation summary
Four cases total: (1) PENDING - WIR Systems, Inc. v. Neumann Realty Corp. and Chad Neumann (Cause No. 1:25-CV-00009-RP, U.S. District Court Western District of Texas) - Breach of Contract, Breach of Non-Compete Agreement, seeking damages for unpaid royalties and unreported financials; (2) PENDING/RESOLVED - Highland Homes-Austin, LLC v. Luis Demetrio Urista and ATX WIR, LLC (Cause No. D-1-GN-23-008524, Travis County) - Commission dispute and Tortious Interference, dismissed with prejudice on July 17, 2024; (3) SETTLED - Marcianne Glennon v. Shirley Shaw, Chris Watters, WIR LLC, Kirk Edward Lewis (Cause No. D-1-GN-15-003842, Travis County) - Fraud and DTPA claims, settled August 30, 2016 for $75,000, no admission of liability; (4) SETTLED - Amanda Mayorga-Monsisvais and Michael Benavidez v. multiple parties including Chris Watters d/b/a WIR (Cause No. D-1-GN-21006159, Travis County) - Property subdivision compliance and fraud claims, settled May 8, 2023 for $35,000 to plaintiffs and $5,000 to sellers, no admission of liability.
Items 10, 11
Training & Operations
- Classroom training
- 78 hrs
- On-the-job training
- 0 hrs
- Training location
- On-site and off-site
- Ongoing training
- Required
- POS system
- Salesforce
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Salesforce
Item 20 · call current owners
Franchisee Contacts
12 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Watters International Realty · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Watters International Realty franchise?
The total investment to open a Watters International Realty franchise ranges from $49K – $201K, with an initial franchise fee of $15K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Watters International Realty franchise owners earn?
Watters International Realty does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Watters International Realty FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Watters International Realty FDD and qualifies whose outlets they describe.
What is Watters International Realty's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Watters International Realty (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Watters International Realty franchise locations are there?
As of their most recent FDD filing, Watters International Realty has 9 total units in the United States, including 9 franchised units and 0 company-owned units. 1 new units were opened in the latest reporting year.
Is Watters International Realty a good franchise to buy?
FranchiseVerdict rates Watters International Realty as a D-grade franchise with a verdict score of 29 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.